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Policy Implementation in Italy: Legislation, Public Administration and the Rule of Law
O'Brien, Paul - Economics Department, Organisation de Coopération et … - 2013
OECD indicators of structural policy show that policy changes in Italy since 1998 should have improved the environment … Italy (www.oecd.org/eco/surveys/Italy).<P>Mise en oeuvre des politiques en Italie : réglementation, administration publique …
Persistent link: https://www.econbiz.de/10011276806
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Global Strategy: The World is your Oyster (if you can shuck it!)
Reus, Reus, T.H. - Erasmus Research Institute of Management (ERIM), … - 2014
In this inaugural lecture, Taco briefly describes the disciplinary background, central research questions, and themes of Global Strategy, and he presents what may be the dominant framework of understanding how global strategy works and what determines its success. In a nutshell, the formation...
Persistent link: https://www.econbiz.de/10011094033
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The role of corporate board structure in attracting foreign investors
Miletkov, Mihail K.; Poulsen, Annette B.; Babajide … - In: Journal of Corporate Finance 29 (2014) C, pp. 143-157
A long-recognized phenomenon in capital markets is the underinvestment in foreign equity securities, known as equity home bias. Our study examines the effect of board independence on the firm's ability to attract foreign equity capital. After accounting for potential endogeneity, we document...
Persistent link: https://www.econbiz.de/10011117530
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Equal opportunity rule vs. market rule in transfer of control: How can private benefits help to provide an answer?
de La Bruslerie, Hubert - Université Paris-Dauphine (Paris IX) - 2013
Having been introduced in the European Union and in many other countries, the equal opportunity rule is seen as protecting investors in the event of a transfer of control. This rule should be analyzed in a context of appropriation of private benefits between the new controlling shareholders and...
Persistent link: https://www.econbiz.de/10010735780
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Equal opportunity rule vs. market rule in transfer of control: How can private benefits help to provide an answer?
de La Bruslerie, Hubert - In: Journal of Corporate Finance 23 (2013) C, pp. 88-107
Having been introduced in the European Union and in many other countries, the equal opportunity rule is seen as protecting investors in the event of a transfer of control. This rule should be analyzed in a context of appropriation of private benefits between the new controlling shareholders and...
Persistent link: https://www.econbiz.de/10010719618
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Does high-quality corporate communication reduce insider trading profitability?
Van Geyt, Debby; Van Cauwenberge, Philippe; Vander … - In: International Review of Law and Economics 37 (2014) C, pp. 1-14
Exploring a unique database on insider trading in Belgium, we investigate whether high-quality corporate communication contributes to reducing insider trading profitability and information asymmetry. Using disclosure scores of professional financial analysts as a proxy for communication quality,...
Persistent link: https://www.econbiz.de/10010752951
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Insider Trading, Option Exercises and Private Benefits of Control
Cziraki, Peter; Renneboog, Prof. Dr. Luc; Goeij, Peter de - Közgazdaság-tudományi Intézet, Közgazdaság- és … - 2010
We investigate patterns of abnormal stock performance around insider trades and option exercises on the Dutch market. Listed firms in the Netherlands have a long tradition of employing many anti-shareholder mechanisms limiting shareholders rights. Our results imply that insider transactions are...
Persistent link: https://www.econbiz.de/10008515102
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Asymmetric Information and International Corporate Social Responsibility
Lopatta, Kerstin; Buchholz, Frerich; Kaspereit, Thomas - ZenTra - Center for Transnational Studies - 2014
We investigate the relation between asymmetric information of insider trades and international corporate social responsibility for U.S. firms listed in the MSCI world index during the period 2004 to 2010. In comparison to current studies, which focus on measuring the interrelation between the...
Persistent link: https://www.econbiz.de/10010735754
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Why does shareholder protection matter for abnormal returns after reported insider purchases and sales?
Fidrmuc, Jana P.; Korczak, Adriana; Korczak, Piotr - In: Journal of Banking & Finance 37 (2013) 6, pp. 1915-1935
We use a unique data set of more than 240,000 reported insider transactions across 15 European countries and the USA to analyze the link between country-level shareholder protection and abnormal returns following insider trades. We show that abnormal returns after insider transactions are...
Persistent link: https://www.econbiz.de/10010662604
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Insider trading in takeover targets
Agrawal, Anup; Nasser, Tareque - In: Journal of Corporate Finance 18 (2012) 3, pp. 598-625
-in-differences regressions of several insider trading measures, we find no evidence that insiders increase their purchases before takeover … takeover completion, such as friendly deals, and deals with a single bidder, domestic acquirer, or less regulated target. The … trading by target insiders during takeover negotiations points to the limits of insider trading regulation. Finally, our …
Persistent link: https://www.econbiz.de/10010577624